The King Mine project, is located in Mineral County, Nevada, approximately 10 miles east of the past producing Rawhide gold mine on the Walker Lane Trend.
The drilling program, which is scheduled to commence on or about October 21, 2013, is designed to test areas of highly anomalous gold values associated with a strong, well defined, IP anomaly following geophysical surveys and geological mapping carried out during the 2012 field season.
The subsurface IP anomaly is well defined and forms an elliptical zone spatially related to the anomalous gold values. Rock sampling results ranged from 0.23 g/t Au to 55.7 g/t Au above a 0.20 g/t Au cut-off and conforms to historic sampling (2002) which had a high value of 28.56 g/t Au over a 1.83 m chip sample. The geological mapping has delineated a strong hydrothermal overprint on andesite host rocks with zones of intense phyllic to potassic style silicification, which carries the anomalous gold values. Within the alteration envelope and IP anomaly is a swarm of rhyolite to dacite porphyry dikes. To date, the deposit model, based on geology, anomalous gold values associated with silicified zones, anomalous arsenic, antimony, copper and bismuth correlated with the gold values, and geophysical signature, suggests a porphyry copper – gold setting with potential for a near surface zone of gold mineralization and a deeper, porphyry style gold-copper deposit.
Asher’s is fully funded for the next 12 months to execute its exploration programs and estimates a cash balance of approximately $1 million at the end of this 12 month period.
"We are well funded as we look to exploit value in our exploration properties and remain committed to being fiscally prudent during a difficult time in the junior exploration sector" commented Richard Buzbuzian, President and CEO, Asher Resources Corp. "We look forward to reporting our exploration results to our shareholders commencing with the King Mine Project in Nevada."
The contents of this news release were supervised and reviewed by Mr. Paul Mattinen BSc Geo Engineering, CPG (AIPG), who is Chief Geologist, USA of Asher Resources and is a Qualified Person within the meaning of NI 43-101.
